Project Details
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Early Warning System IFC-41721 DCM BAY Women Entrepreneur Bond Early Warning System IFC-41721 DCM BAY Women Entrepreneur Bond Quick Facts Countries Thailand Financial Institutions International Finance Corporation (IFC) Status Approved Bank Risk Rating FI Voting Date 2019-06-13 Borrower Bank of Ayudhya Public Company Limited Sectors Finance Ring Fence Small & Medium Enterprises Investment Type(s) Loan Investment Amount (USD) $ 150.00 million Project Cost (USD) $ 220.00 million Early Warning System https://ews.rightsindevelopment.org/ [email protected] Early Warning System IFC-41721 DCM BAY Women Entrepreneur Bond Project Description According to the bank website, "The proposed investment entails IFC anchor investment of up to US$150 million in a US$220 million privately-placed, senior, unsecured USD-denominated “Women Entrepreneurs Bonds” to be issued by Bank of Ayudhya Public Company Ltd. (“Krungsri” or the “Bank”) to finance the expansion of the Bank’s women-led small and medium enterprises (“WSME”) loan portfolio (the “Project”). The Project will support the Bank’s ongoing efforts to increase its lending portfolio to WSMEs, an important sector that drives economic growth and employment, and to promote resilient and sustainable growth and strengthen financial inclusion in Thailand. Krungsri is the fifth largest commercial bank in Thailand, in terms of total assets, with 11.4% market share of total banking sector assets (US$67 billion) as of December 2018. The Bank has a leading position in consumer lending and ranks #1 in retail and #5 in the SME and corporate loan segments. Krungsri is listed on the Stock Exchange of Thailand, with a market cap of US$9.4 billion as of July 31, 2019 and is recognized as a Domestic Systematically Important Bank by the Bank of Thailand. IFC has a multi-level partnership with the Bank and its subsidiaries in the East Asia and the Pacific region, notably Hattha Kaksekar Limited in Cambodia, as well as the Bank’s major shareholder - MUFG Bank, Ltd., the largest commercial bank in Japan (“MUFG Bank”)" Early Warning System https://ews.rightsindevelopment.org/ [email protected] Early Warning System IFC-41721 DCM BAY Women Entrepreneur Bond Investment Description International Finance Corporation (IFC) Financial Intermediary Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary. Bank of Ayudhya Public Company Limited (Financial Intermediary) Early Warning System https://ews.rightsindevelopment.org/ [email protected] Early Warning System IFC-41721 DCM BAY Women Entrepreneur Bond Private Actors Description According to IFC, Krungsri is a strategic subsidiary of MUFG Bank, formerly Bank of Tokyo-Mitsubishi UFJ, Ltd., which owned 76.88% of the Bank as of July 31, 2019. MUFG Bank is a multinational banking and financial services corporation based in Japan with consolidated total assets of US$2,904 billion as of June 2019. It became a shareholder in Krungsri in 2013. As a major shareholder and a strategic partner, MUFG Bank has provided a wide range of support such as product development, risk management, information technology, global network, and marketing to help strengthen Krungsri’s franchise and operations. Early Warning System https://ews.rightsindevelopment.org/ [email protected] Early Warning System IFC-41721 DCM BAY Women Entrepreneur Bond Private Actor Private Actor Private Actor Private Actor Private Actor 1 1 Role 1 Sector Relation Private Actor 2 2 Role 2 Sector ACS Parent Construction owns Dragados SA Client Construction Company ACS Parent Construction owns Hochtief AG Client Construction Company Akira Holding Foundation Parent Agriculture and owns Louis Dreyfus Co Asia Pte Client Agriculture and Company Forestry Ltd Forestry Akira Holding Foundation Parent Agriculture and owns Louis Dreyfus Co Brasil SA Client Agriculture and Company Forestry Forestry Alliance Global Group Inc Parent Agriculture and owns Emperador International Ltd Client Agriculture and Company Forestry Forestry Amadeus IT Holding SA Parent Communications owns AMADEUS IT GROUP SA Client Communications Company Amkor Technology Inc Parent Communications owns Amkor Technology Japan KK Client Communications Company Amkor Technology Inc Parent Communications owns J-Devices Corp Client Communications Company ASM International NV Parent Construction owns ASM Pacific Technology Ltd Client Construction Company Aso Corp Parent Construction owns Nittoc Constr Co Ltd Client Construction Company Ati Invest Parent Llp Parent Construction owns Array Technologies Inc Client Construction Company Bacardi & Co Ltd Parent Agriculture and owns Bacardi Ltd Client Agriculture and Company Forestry Forestry Bain Capital LP Parent Communications owns Toshiba Memory Corp Client Communications Company Broadcom Inc Parent Communications owns Broadcom Corp Client Communications Company BSA International SA Parent Agriculture and owns Groupe Lactalis SA Client Agriculture and Company Forestry Forestry BSA SAS Parent Agriculture and owns Groupe Lactalis SA Client Agriculture and Company Forestry Forestry Bunge Ltd Parent Agriculture and owns Bunge Finance Europe Client Agriculture and Company Forestry Forestry Cardinal Health Inc Parent Communications owns naviHealth Inc Client Communications Company Carlsberg A/S Parent Agriculture and owns Carlsberg Breweries A/S Client Agriculture and Company Forestry Forestry CHUBU Electric Power Co Parent Construction owns Toenec Corp Client Construction Inc Company Early Warning System https://ews.rightsindevelopment.org/ [email protected] Early Warning System IFC-41721 DCM BAY Women Entrepreneur Bond Private Actor Private Actor Private Actor Private Actor Private Actor 1 1 Role 1 Sector Relation Private Actor 2 2 Role 2 Sector CNH Industrial NV Parent Construction owns CNH Global NV Client Construction Company Co-operative Bulk Handling Parent Agriculture and owns CBH Grain Pty Ltd Client Agriculture and Ltd Company Forestry Forestry COFCO Corp Parent Agriculture and owns COFCO (Hong Kong) Ltd Client Agriculture and Company Forestry Forestry Cosan Ltd Parent Agriculture and owns Usina da Barra SA(Grupo Client Agriculture and Company Forestry Cosan) Forestry Dell Technologies Inc Parent Communications owns Dell Finl Svcs Pty Ltd Client Communications Company ECOM Agroindustrial Corp Parent Agriculture and owns ECOM Agroindustrial Asia Ltd Client Agriculture and Ltd Company Forestry Forestry Farmers Co-operative Dairy Parent Agriculture and owns Agropur Cooperative Client Agriculture and Company Forestry Forestry First Solar Inc Parent Communications owns Cal Flats Solar InvestCo LLC Client Communications Company FKS Group Parent Agriculture and owns FKS Food & Agro Pte Ltd Client Agriculture and Company Forestry Forestry Fortress Investment Group Parent Construction owns Interpool Inc Client Construction LLC Company Francisco Partners Mgmt Lp Parent Communications owns Ichor Systems Inc Client Communications Company Gardner Denver Holdings Inc Parent Construction owns Gardner Denver Inc Client Construction Company Garfield Weston Foundation Parent Agriculture and owns Associated British Foods PLC Client Agriculture and Company Forestry Forestry GDC Transition Co Parent Construction owns Guardian Industries Corp Client Construction Company GI Partners LLP Parent Communications owns Peak 10 Inc Client Communications Company Grupo Argos SA Parent Construction owns Argos N America Corp Client Construction Company Hitachi Ltd Parent Communications owns Clarion Co Ltd Client Communications Company Hitachi Ltd Parent Construction owns Hitachi Construction Client Construction Company Machinery HNA Technology Co Ltd Parent Communications owns Ingram Micro Inc Client Communications Company Honeywell International Inc Parent Construction owns Honeywell Intl Inc-Homes & Client Construction Company Early Warning System https://ews.rightsindevelopment.org/ [email protected] Early Warning System IFC-41721 DCM BAY Women Entrepreneur Bond Private Actor Private Actor Private Actor Private Actor Private Actor 1 1 Role 1 Sector Relation Private Actor 2 2 Role 2 Sector Imperial Brands PLC Parent Agriculture and owns Imperial Brands Finance PLC Client Agriculture and Company Forestry Forestry Infrared Capital Partners Ltd Parent Construction owns HS1 (High-Speed Rail) Asts Client Construction Company Ingersoll Rand Inc Parent Construction owns Gardner Denver Inc Client Construction Company Ingersoll-Rand PLC Parent Construction owns Ingersoll-Rand Glbl Hldgs Co Client Construction Company Inmobiliaria Carso SA de CV Parent Construction owns FCC Client Construction Company JAB Holding Co Sarl Parent Agriculture and owns Jde Peets Bv Client Agriculture and Company Forestry Forestry Janus Henderson Group PLC Parent Construction owns John Laing PLC Client Construction Company Japan Tobacco Inc Parent Agriculture and owns Japan Tobacco International Client Agriculture and Company Forestry SA Forestry Jardine Matheson Holdings Parent Agriculture and owns Astra Agro Lestari Tbk PT Client Agriculture and Ltd Company Forestry Forestry Jardine Matheson Holdings Parent Construction owns United Tractors Tbk PT Client Construction